Tearsheet

LeMaitre Vascular (LMAT)


Market Price (11/14/2025): $89.64 | Market Cap: $2.0 Bil
Sector: Health Care | Industry: Health Care Equipment

LeMaitre Vascular (LMAT)


Market Price (11/14/2025): $89.64
Market Cap: $2.0 Bil
Sector: Health Care
Industry: Health Care Equipment

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow


0 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 26%
  Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 28x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 28x, P/EPrice/Earnings or Price/(Net Income) is 38x
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 30%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 27%
  
2 Low stock price volatility
Vol 12M is 34%
  
3 Megatrend and thematic drivers
Megatrends include Aging Population & Chronic Disease. Themes include Geriatric Care, and Diabetes Management.
  
0 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 26%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 30%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 27%
2 Low stock price volatility
Vol 12M is 34%
3 Megatrend and thematic drivers
Megatrends include Aging Population & Chronic Disease. Themes include Geriatric Care, and Diabetes Management.
4 Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 28x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 28x, P/EPrice/Earnings or Price/(Net Income) is 38x

Market Valuation & Key Metrics

LMAT Stock


Why The Stock Moved


Qualitative Assessment

AI Generated Analysis | Feedback

Here are the key points highlighting why LeMaitre Vascular (LMAT) stock moved by 10.6% from approximately July 31, 2025, to November 14, 2025: 1. Positive Q2 2025 Financial Results and Upbeat Guidance. On August 5, 2025, LeMaitre Vascular reported strong second-quarter 2025 results, with sales increasing 15% organically and diluted earnings per share (EPS) rising 16%, which led to an increase in its full-year 2025 guidance.

2. Exceptional Q3 2025 Earnings Beat and Further Raised Guidance. The company announced on November 6, 2025, that its third-quarter 2025 sales increased by 11% (12% organic), and GAAP diluted EPS surged by 54% to $0.75, significantly surpassing analyst estimates. This robust performance prompted a further increase in its full-year 2025 sales and adjusted operating income guidance.

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Stock Movement Drivers

Return vs. Risk


Price Returns Compared

 202020212022202320242025Total [1]
Returns
LMAT Return14%25%-7%25%64%-2%164%
Peers Return30%25%-12%2%13%2%68%
S&P 500 Return16%27%-19%24%23%15%109%

Monthly Win Rates [3]
LMAT Win Rate58%50%42%67%67%40% 
Peers Win Rate43%53%37%47%48%55% 
S&P 500 Win Rate58%75%42%67%75%70% 

Max Drawdowns [4]
LMAT Max Drawdown-41%-1%-22%-3%-5%-15% 
Peers Max Drawdown-20%-9%-36%-20%-17%-11% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 


[1] Cumulative total returns since the beginning of 2020
[2] Peers: EW, MASI, ATRC, UFPT, CUPR.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 11/13/2025 (YTD)

How Low Can It Go

Unique KeyEventLMATS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-38.3%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven62.2%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven360 days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-45.3%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven82.9%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven239 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-46.3%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven86.4%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven701 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-75.7%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven311.3%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven1770 days1480 days

Compare to EW, MASI, ATRC, UFPT, CUPR


In The Past

LeMaitre Vascular's stock fell -38.3% during the 2022 Inflation Shock from a high on 6/25/2021. A -38.3% loss requires a 62.2% gain to breakeven.

Preserve Wealth

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Asset Allocation

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About LeMaitre Vascular (LMAT)

Better Bets than LeMaitre Vascular (LMAT)

Latest Trefis Analyses

Trade Ideas

Select past ideas related to LMAT. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
GDRX_10312025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG10312025GDRXGoodRxDip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap
-8.9%-8.9%-10.1%
DXCM_10312025_Monopoly_xInd_xCD_Getting_Cheaper10312025DXCMDexComMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
2.6%2.6%-5.8%
ACHC_10242025_Dip_Buyer_ValueBuy10242025ACHCAcadia HealthcareDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
-31.2%-31.2%-31.2%
PBH_10102025_Dip_Buyer_ValueBuy10102025PBHPrestige Consumer HealthcareDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
-1.7%-1.7%-1.9%
REGN_10032025_Dip_Buyer_ValueBuy10032025REGNRegeneron PharmaceuticalsDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
15.8%15.8%-7.0%
LMAT_7312021_Quality_Momentum_RoomToRun_10%07312021LMATLeMaitre VascularQualityQ | Momentum | UpsideQuality Stocks with Momentum and Upside
Buying quality stocks with strong momentum but still having room to run
-24.4%-6.7%-27.8%
Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
GDRX_10312025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG10312025GDRXGoodRxDip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap
-8.9%-8.9%-10.1%
DXCM_10312025_Monopoly_xInd_xCD_Getting_Cheaper10312025DXCMDexComMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
2.6%2.6%-5.8%
ACHC_10242025_Dip_Buyer_ValueBuy10242025ACHCAcadia HealthcareDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
-31.2%-31.2%-31.2%
PBH_10102025_Dip_Buyer_ValueBuy10102025PBHPrestige Consumer HealthcareDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
-1.7%-1.7%-1.9%
REGN_10032025_Dip_Buyer_ValueBuy10032025REGNRegeneron PharmaceuticalsDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
15.8%15.8%-7.0%
LMAT_7312021_Quality_Momentum_RoomToRun_10%07312021LMATLeMaitre VascularQualityQ | Momentum | UpsideQuality Stocks with Momentum and Upside
Buying quality stocks with strong momentum but still having room to run
-24.4%-6.7%-27.8%

Recent Active Movers

Recent Active Movers

More From Trefis

Peer Comparisons for LeMaitre Vascular

Financials

LMATEWMASIATRCUFPTCUPRMedian
NameLeMaitre.Edwards .Masimo AtriCure UFP Tech.Cuprina  
Mkt Price89.6486.11152.4331.71234.300.7687.88
Mkt Cap2.050.38.21.51.8-2.0
Rev LTM2415,8842,182518598-598
Op Inc LTM621,619133-2695-95
FCF LTM668001681687-87
FCF 3Y Avg4168893-956-56
CFO LTM731,0172084399-99
CFO 3Y Avg489551471867-67

Growth & Margins

LMATEWMASIATRCUFPTCUPRMedian
NameLeMaitre.Edwards .Masimo AtriCure UFP Tech.Cuprina  
Rev Chg LTM13.1%10.6%38.5%15.8%29.5%-15.8%
Rev Chg 3Y Avg14.6%4.4%11.4%18.0%23.4%-14.6%
Rev Chg Q11.4%14.7%8.2%15.8%6.5%-11.4%
QoQ Delta Rev Chg LTM2.7%3.5%1.3%3.7%1.6%-2.7%
Op Mgn LTM25.7%27.5%6.1%-5.1%16.0%-16.0%
Op Mgn 3Y Avg22.4%28.9%8.9%-6.2%15.8%-15.8%
QoQ Delta Op Mgn LTM2.4%-0.4%2.0%1.7%-0.6%-1.7%
CFO/Rev LTM30.4%17.3%9.5%8.3%16.6%-16.6%
CFO/Rev 3Y Avg21.8%18.7%8.1%3.6%13.5%-13.5%
FCF/Rev LTM27.5%13.6%7.7%3.1%14.6%-13.6%
FCF/Rev 3Y Avg18.5%13.4%5.3%-2.8%11.2%-11.2%

Valuation

LMATEWMASIATRCUFPTCUPRMedian
NameLeMaitre.Edwards .Masimo AtriCure UFP Tech.Cuprina  
Mkt Cap2.050.38.21.51.8-2.0
P/S8.48.63.82.93.0-3.8
P/EBIT27.829.5-48.2-69.119.4-19.4
P/E38.136.9-14.5-52.826.9-26.9
P/CFO27.749.539.635.218.2-35.2
Total Yield3.5%2.7%-6.9%-1.9%3.7%-2.7%
Dividend Yield0.8%0.0%0.0%0.0%0.0%-0.0%
FCF Yield 3Y Avg2.3%1.6%1.1%-0.4%3.5%-1.6%
D/E0.10.00.10.10.1-0.1
Net D/E-0.1-0.10.0-0.00.1--0.0

Returns

LMATEWMASIATRCUFPTCUPRMedian
NameLeMaitre.Edwards .Masimo AtriCure UFP Tech.Cuprina  
1M Rtn2.6%17.4%3.4%-10.4%17.5%-26.1%3.0%
3M Rtn-6.4%10.1%0.4%-10.4%4.6%-91.9%-3.0%
6M Rtn7.8%12.0%-1.3%-1.8%-3.8%-83.9%-1.5%
12M Rtn-11.9%29.4%-5.7%-12.4%-25.6%--11.9%
3Y Rtn100.5%17.1%24.8%-31.2%103.6%-24.8%
1M Excs Rtn1.7%17.1%1.6%-15.4%18.9%-24.8%1.7%
3M Excs Rtn-11.0%5.6%-5.4%-15.0%2.3%-40.5%-8.2%
6M Excs Rtn-6.0%-1.9%-15.1%-15.7%-17.7%-97.7%-15.4%
12M Excs Rtn-26.6%16.8%-18.0%-29.3%-44.1%--26.6%
3Y Excs Rtn33.3%-52.4%-52.1%-98.0%26.3%--52.1%

Financials

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
Development, manufacturing, and marketing of medical devices and implants, as well as the processing193    
Single segment 162154129117
Total193162154129117


Price Behavior

Short Interest

Short Interest: As Of Date10312025
Short Interest: Shares Quantity1,216,468
Short Interest: % Change Since 10152025-0.6%
Average Daily Volume121,680
Days-to-Cover Short Interest10
Basic Shares Quantity22,660,000
Short % of Basic Shares5.4%

Earnings Returns History

Expand for More

 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
11/6/20251.4%  
8/5/20258.9%10.3%13.6%
2/27/2025-8.1%-17.4%-16.7%
10/31/20247.3%14.3%19.5%
8/1/2024-1.4%-3.8%4.9%
2/27/202414.4%8.6%8.5%
11/1/2023-2.4%3.4%12.9%
8/1/20233.0%-9.1%-6.4%
...
SUMMARY STATS   
# Positive10910
# Negative9109
Median Positive5.8%4.6%6.7%
Median Negative-8.1%-8.7%-11.0%
Max Positive14.4%14.3%19.5%
Max Negative-19.5%-18.0%-26.8%

SEC Filings

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Report DateFiling DateFiling
93020251107202510-Q 9/30/2025
6302025806202510-Q 6/30/2025
3312025508202510-Q 3/31/2025
12312024228202510-K 12/31/2024
93020241108202410-Q 9/30/2024
6302024808202410-Q 6/30/2024
3312024510202410-Q 3/31/2024
12312023229202410-K 12/31/2023
93020231107202310-Q 9/30/2023
6302023808202310-Q 6/30/2023
3312023509202310-Q 3/31/2023
12312022301202310-K 12/31/2022
93020221108202210-Q 9/30/2022
6302022805202210-Q 6/30/2022
3312022510202210-Q 3/31/2022
12312021228202210-K 12/31/2021

Insider Activity

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 OwnerTitleFiling DateActionPriceSharesTransacted
Value
Value of
Held Shares
Form
0Jasinski Lawrence J 8142025Sell92.7897690,553442,839Form
1LeMaitre George WChairman and CEO8082025Sell93.51100,0009,350,530161,483,934Form
2LeMaitre George WChairman and CEO5202025Sell84.7718,7331,587,923158,822,088Form
3Jasinski Lawrence J 3062025Sell92.003,142289,064239,844Form
4Jasinski Lawrence J 11222024Sell103.5019820,493528,988Form